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to avoid the fiscal cliff. stocks rising, well, modestly is a big, strong word for what happened. technology stocks helping the dow up 15 points. the s&p up a fraction, the nasdaq rose nine. trading light. technology stocks strong in the market, and i'm speaking, obviously, comparatively. hewlett-packard setting the tone, leading the sector, not commenting on speculation that carl icahn has been amazing a position in the stock -- amassing a position in the stock. cisco systems -- mcdonald's, also a dow stock rising on news that sales rose 2.5% last month. that stock up just about 1% today. piper jaffray calling apple a $900 stock based on fundamentals. it may be, but it's got a ways to go after today, apple losing $3.43 on the day, $8 above its low of the session and trading slightly higher in after hours. crude oil prices down on the day for a fifth straight session closing at 85.56, the decline in crude also showing up at the pump. the average price of a gallon of gasoline dropping 11 cents, and we're looking
to avoid the fiscal cliff. stocks rising, well, modestly is a big, strong word for what happened. technology stocks helping the dow up 15 points. the s&p up a fraction, the nasdaq rose nine. trading light. technology stocks strong in the market, and i'm speaking, obviously, comparatively. hewlett-packard setting the tone, leading the sector, not commenting on speculation that carl icahn has been amazing a position in the stock -- amassing a position in the stock. cisco systems --...
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. >> even as the fiscal cliff negotiations drag on in washington, wall street seems to be basically unphased. the dow jones has slipped only about 200 points since the election. why isn't wall street more on edge itself? william cohen is the author of "money and power, hold goldman sachs came to rule the world." the labor department came out with the applications for unemployment aid saying it fell sharply for the last week and stocks basically opened flat this morning as we've seen. some of that has to do more with europe than it does with washington. but what is your reasoning for why wall street hasn't displayed more of an impact from this fiscal cliff nonsense? >> thomas, what wall street hates most of all is uncertainty and it's counterintuitive, there's actually plenty of certainty now. what's going to be certain is taxes are going up. either we go off the cliff or the curb and then taxes rise for everybody and then maybe they get repealed for the middle class and others or we reach a deal and taxes go up for the wealthiest 2% and everybody else breathes a sigh of relief. there's some
. >> even as the fiscal cliff negotiations drag on in washington, wall street seems to be basically unphased. the dow jones has slipped only about 200 points since the election. why isn't wall street more on edge itself? william cohen is the author of "money and power, hold goldman sachs came to rule the world." the labor department came out with the applications for unemployment aid saying it fell sharply for the last week and stocks basically opened flat this morning as we've...
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of course, everyone waiting on the fiscal cliff here in washington. have yourself a very merry christmas. they did a great job. tracy: we have to get that on air. ashley: great voice, also. thank you. see you in 15 minutes. tracy: president obama focusing on keeping the entire country from going over the fiscal cliff. one person directly asking the president for a bailout. gerri willis has the latest. gerri: she says they are owed. wayne county voted 75% for the president. listen to this. >> our people, overwhelmingly, supported the president. there ought to be a pro- flow. you exercise leadership on that. gerri: she went on to say that you go to washington and come back with the bacon. that is what you do, she says. [talking over each other] gerri: people have to watch this clip. tracy: it dumbfounded me that people in america think this way. ashley: she is basically saying they'll out the city. gerri: the city is in desperate financial trouble. worried they cannot make payroll this month. we will have the city council on the show tonight. in the bac
of course, everyone waiting on the fiscal cliff here in washington. have yourself a very merry christmas. they did a great job. tracy: we have to get that on air. ashley: great voice, also. thank you. see you in 15 minutes. tracy: president obama focusing on keeping the entire country from going over the fiscal cliff. one person directly asking the president for a bailout. gerri willis has the latest. gerri: she says they are owed. wayne county voted 75% for the president. listen to this....
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economy ndntinued to add jobs in november, despite worries about a looming fiscal cliff in washington and the effects of a k perstorm in the northeast. >> thank you very much. or reporter: at chobani, the greek yogurt maker based in new york, c.e.o. hamdi ulukaya has been hiring. how many employees do you have? >> close to 2,000. >> reporter: the turkish-born ulukaya started chobani just four years ago. since then, greek yogurt sales re g exploded. chobani is now nearly a billion- dollar business. >> think we're going to be over 5,000 to 6,000 people by five years. >> reporter: so another 3,000 or ll000. th yeah. >> reporter: nationally job f owth has been steady but slow. so far in 2012 the economy has added an average of 151,000 jobs a month. >> we are creating more jobs but the pace of that hasn't really thanged much in the last two years. >> reporter: this chief investment strategist with the the blackrock says the economy is caught in a circle. >> one reason the job market isn't better is consumers aren't spending and the reason consumers aren't spending is etcause the job market
economy ndntinued to add jobs in november, despite worries about a looming fiscal cliff in washington and the effects of a k perstorm in the northeast. >> thank you very much. or reporter: at chobani, the greek yogurt maker based in new york, c.e.o. hamdi ulukaya has been hiring. how many employees do you have? >> close to 2,000. >> reporter: the turkish-born ulukaya started chobani just four years ago. since then, greek yogurt sales re g exploded. chobani is now nearly a...
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. >>> washington has gone silent over the fiscal cliff. most of our lawmakers have headed home. the left and the right aren't speaking to each other. of course, even though they're not talking to each other, that doesn't mean they're not talking about each other. here's what harry reid had to say about republicans today. >> it's not one of my favorite teams but it's really, really fun to watch and that's the new york jets. coach ryan. he's got a problem. he has three quarterbacks. sanchez, he's got tim tebow. he's a guy named mcelroy. he can't decide who their quarterback is going to be. that's the same problem of the republicans. >> wow. if you don't live in new york or follow football, the new york jets are a nfl team that is currently plagued by horrible things. embarrassing losses, infights and culminated the butt fumble on thanksgiving of sanchez. it -- yeah. it shows how grim it is for the new york jets since it's synonymous with infighting. the hometown paper slammed them. that was when they won. but this also shows how far the gop has fallen. since mitt romney's big loss
. >>> washington has gone silent over the fiscal cliff. most of our lawmakers have headed home. the left and the right aren't speaking to each other. of course, even though they're not talking to each other, that doesn't mean they're not talking about each other. here's what harry reid had to say about republicans today. >> it's not one of my favorite teams but it's really, really fun to watch and that's the new york jets. coach ryan. he's got a problem. he has three...
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paul steinhauser live in washington, thank you. >>> let's talk more about the fiscal cliff. we have the washington correspondent for the new yorker and cnn contributor ryan lizza with us. john boehner and the president in a room, just the two of them. good idea? >> i think it is a good idea. >> if you look at the accounts of the negotiations of 2011 when you had boehner, mcconnell, nancy pelosi all in one ba bainer and the president who were on the phone meeting privately. they could go fwook their constituents and boehner could go to eric cantor and see what kind of deal they could get. but that was the dynamic that came the closest. >> they didn't have control of their parties basically right? does john boehner have more control? >> they think obama can get anything through the house of representatives. but everything that has happened since the election all of the moves in the republican caucus have been about boehner consolidating control over that tea party caucus that didn't allow boehner to get a deal in 2011. >> there will be some criticism about it being two people
paul steinhauser live in washington, thank you. >>> let's talk more about the fiscal cliff. we have the washington correspondent for the new yorker and cnn contributor ryan lizza with us. john boehner and the president in a room, just the two of them. good idea? >> i think it is a good idea. >> if you look at the accounts of the negotiations of 2011 when you had boehner, mcconnell, nancy pelosi all in one ba bainer and the president who were on the phone meeting privately....
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the foj kus is on washington as fiscal cliff negotiations continue. we will also get an update on the health of the labor market when the weekly jobless claims report comes out later this month. >>> by now you all know the siren logo. >> many of you will grab a cup of coffee this morning. starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for the first time ever. his message to lawmakers, now is not the time to play politics. it's about doing right by the american people. >> i think if people would get in the room and leave their ego behind, and not be so skewed towards the party but be so sensitive to the lens of the american people, we will have an agreement. >> poppy harlow is joining us with more. we've been talking about how this will affect us. schultz says this goes way beyond our boarders. >> it's global. something that stuck with me talking to him about this, the people who need a deal most will be hurt t
the foj kus is on washington as fiscal cliff negotiations continue. we will also get an update on the health of the labor market when the weekly jobless claims report comes out later this month. >>> by now you all know the siren logo. >> many of you will grab a cup of coffee this morning. starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for...
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then again, it could look like fiscal cliff part two. washington is washington, after all. telemundo jose diaz bullart lends his intelligence and wit to an increasingy horny topic. jose, it's wonderful to see you, as always. >> thank you, alex. what a pleasure. pleasure to see you. you know, it's interesting, alex. the folks that love -- i'm sorry. go ahead. >> oh, i was just going to say there has been this sense that everyone was going to settle under a rainbow and sit at the pot of gold and come up with comprehensive immigration reform, but now we are starting to see some fractures, some discussion that certain elements of the republican party are not going to be okay with a comprehensive immigration reform package. where do you stand on this? do you think that -- >> it's interesting. do think the process helped the gop among latino voters? >> no. no. it's interesting, alex, because the same people that love a tax amnesty hate apparently citizenship possibilities for 11 million people that have been here for many years. many of them have children and grandchildren born i
then again, it could look like fiscal cliff part two. washington is washington, after all. telemundo jose diaz bullart lends his intelligence and wit to an increasingy horny topic. jose, it's wonderful to see you, as always. >> thank you, alex. what a pleasure. pleasure to see you. you know, it's interesting, alex. the folks that love -- i'm sorry. go ahead. >> oh, i was just going to say there has been this sense that everyone was going to settle under a rainbow and sit at the pot...
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are solid, despite the fiscal cliff concerns coming out of washington. she says stocks could get hit in the early part of the area if we go over the fiscal cliff, but the fundamentals of the economy are still good. >>> all right. apple stock dropped more than 6% yesterday. shares were down about half a percent in pre-market trading this morning. no concrete news pushing them down, but today there's another hearing in the patent case with samsung in california. and a tech research report generatored a lot of buzz that apple's tablet competitors could eat into its market share. >> interesting. >> thanks, christine. >>> well, the good news is, let's do the fiscal cliff and the good news. and it's not very much. but at least the two sides are talking, by phone. not face to face. house speaker john boehner and the president are hoping to break the fiscal cliff ice. now we're just mixing metaphors, left and right. speaking on the phone, 26 days left, of course, until we tumble over the cliff or slide down the slope or fall off the precipice or however you want
are solid, despite the fiscal cliff concerns coming out of washington. she says stocks could get hit in the early part of the area if we go over the fiscal cliff, but the fundamentals of the economy are still good. >>> all right. apple stock dropped more than 6% yesterday. shares were down about half a percent in pre-market trading this morning. no concrete news pushing them down, but today there's another hearing in the patent case with samsung in california. and a tech research...
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. >>> back here at home, fiscal cliff negotiations in washington are still up in the air. most lawmakers have gone home for a long weekend break. this as timothy geithner says the obama administration is willing to go over the fiscal cliff. nbc's tracie potts joins us live from washington with an update. good morning to you. >> reporter: let's start with geithner. he told cnbc that instead of continuing tax breaks for the wealthy, the obama administration is willing to go over this cliff which means they're willing to let your taxes go up and unemployment checks go away massive spending cuts happen if the pentagon instead of continuing the tax breaks for the wealthy. now there's been very little progress here on chiapitol hill which is why so many have gone home. we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many law
. >>> back here at home, fiscal cliff negotiations in washington are still up in the air. most lawmakers have gone home for a long weekend break. this as timothy geithner says the obama administration is willing to go over the fiscal cliff. nbc's tracie potts joins us live from washington with an update. good morning to you. >> reporter: let's start with geithner. he told cnbc that instead of continuing tax breaks for the wealthy, the obama administration is willing to go over...
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has made a counteroffer to the white house on the fiscal cliff and the endless conversation continues today with president obama giving his first post-election one on one interview here's a snippet i think the issue right away and when will the two of you sit down and around the you know i don't think that the issue right now as you do is sitting in a room. there was plenty of that it throughout the interview but do these twenty four seven deficit debates do you want to undermine perceptions of america and the dollars position in the international monetary system then they do to address the nation's growing debt will discuss uncle sam's exorbitant privilege despite the budget woes and assess the competitive currency landscape plus the dollar fell against other currencies to a six week low this morning according to reuters which cited concerns over a fiscal cliff deal but what does the so-called dollar index really gauge when it comes to the greenback true value will break it down and word of the day and paying people to track the comings and goings of private corporate jets in the big
has made a counteroffer to the white house on the fiscal cliff and the endless conversation continues today with president obama giving his first post-election one on one interview here's a snippet i think the issue right away and when will the two of you sit down and around the you know i don't think that the issue right now as you do is sitting in a room. there was plenty of that it throughout the interview but do these twenty four seven deficit debates do you want to undermine perceptions of...
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in a cnn/crc poll, 67% said washington officials would behave like spoiled children in the fiscal cliff discussions. only 28% said they would behave like adults. tonight signs that maybe some adult behavior might be prevail and a compromise might be reached. jessica yellen joins us, dana bash and david gergen. what's the latest? >> reporter: they are a long way from a deal, but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important development because it's the first time they've talked in a week about the fiscal cliff. i am told, though, that there was no real progress in negotiations. in this sense there was no breakthrough on that central point of tax rates. as you know, president obama insists there is no deal unless the gop agrees to raise rates on the top 2% of earners. the gop says that's a nonstarter and the two men have not moved from that basic position. now, all of this quomz comes at the same time treasury secretary geithner also said for the first time the administration would be willing to go over the fiscal cliff if
in a cnn/crc poll, 67% said washington officials would behave like spoiled children in the fiscal cliff discussions. only 28% said they would behave like adults. tonight signs that maybe some adult behavior might be prevail and a compromise might be reached. jessica yellen joins us, dana bash and david gergen. what's the latest? >> reporter: they are a long way from a deal, but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important...
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dead in the water on the fiscal cliff. we are about to find out. [ male announcer ] if you're eligible for medicare, now is a good time to think about your options. are you looking for a plan that really meets your needs and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. call today to request a free decision guide to help you
dead in the water on the fiscal cliff. we are about to find out. [ male announcer ] if you're eligible for medicare, now is a good time to think about your options. are you looking for a plan that really meets your needs and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans,...
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in this country president obama says cutting a deal to avoid the fiscal cliff could to be done in a week but the president said that won't happen unless republicans drop their opposition to the wealthy. president obama visited a virginia family to move his cause. he maintained his hard line on tax increase. >> just to be clear i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something done. >> congress and the president have until the end the year to avert automatic spending cuts and tax increase. take a quick break. when we come back on the morning news a preview of this morning's jobs report. what role did sandy play in hiring? ♪ [ male announcer ] with free package pickup from the u.s. postal service. visit usps.com. pay, print, and have it picked up for free before december 20h for delivery in time for the holidays. you can even give us special instructions on where to find it. free package pickup. from the u.s. postal service. because it's nice to have an extra pair of hands arou
in this country president obama says cutting a deal to avoid the fiscal cliff could to be done in a week but the president said that won't happen unless republicans drop their opposition to the wealthy. president obama visited a virginia family to move his cause. he maintained his hard line on tax increase. >> just to be clear i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something...
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fiscal cliff negotiations appear to be going nowhere. today president obama will meet with members of the business round table. plus, on the economic calendar, the november adp report on employment is due at 8:15 eastern. u.s. equity futures at this hour are indicated higher. not much happened yesterday. it's wednesday, december 5th, 2012, and "squawk box" begins right now.
fiscal cliff negotiations appear to be going nowhere. today president obama will meet with members of the business round table. plus, on the economic calendar, the november adp report on employment is due at 8:15 eastern. u.s. equity futures at this hour are indicated higher. not much happened yesterday. it's wednesday, december 5th, 2012, and "squawk box" begins right now.
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encroaching on the dreaded fiscal cliff, but a washington insider has a plan to get the u.s. budget back on track without tax hikes and way before simpson-bowles says they would do it. he says 2020. the former treasury secretary joining us live exclusively only here on fox business next. don't move. ♪ [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questio and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordable legal protection. in most states, a legal plan attorney is available with every personalized document to answer any questions. get started at legalzoom.com today. and now you're protected. [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's j
encroaching on the dreaded fiscal cliff, but a washington insider has a plan to get the u.s. budget back on track without tax hikes and way before simpson-bowles says they would do it. he says 2020. the former treasury secretary joining us live exclusively only here on fox business next. don't move. ♪ [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like...
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a greater understand we need to sit down and work together and avoid this fiscal cliff. >> debbie, always a pleasure. good to see you. let's bring in lori montgomery for "the washington post," democratic strategy blake zeff. we decided to focus on this today. lori, let me start with you. both house leaders today, it really seems as if talks are -- it seems they're at a standstill, but our first read team is convinced a deal is in sight. we heard from debbie wasserman schultz she heard a deal is in sight. what are you hearing? >> you can see what the framework of a deal is, and i think today you heard speaker boehner. his office tried to walk it back, but for the first time he made public remarks where he didn't rule out an increase in tax rates. you have to wonder if they don't start to move towards a resolution it to what has been the big stumbling point. >> zachary, she mentioned an increase in rates. it would seem that the magic number might be 37%. the president said 39.5% for the highest income earners. right now we're at 35%. maybe i'm oversimplifying, but the obvious compromise wou
a greater understand we need to sit down and work together and avoid this fiscal cliff. >> debbie, always a pleasure. good to see you. let's bring in lori montgomery for "the washington post," democratic strategy blake zeff. we decided to focus on this today. lori, let me start with you. both house leaders today, it really seems as if talks are -- it seems they're at a standstill, but our first read team is convinced a deal is in sight. we heard from debbie wasserman schultz she...
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experts say it could be the sail mate in washington around the fiscal cliff that's causing th this. chris stirewalt is our host of power play on foxnews.com live. this consumer confidence report shows the levels have plunges to the lowest in five months. is this getting any play in washington or was all the talk about the jobs numbers and unemployment rates? >> the jobs numbers weren't good enough to overshadow too much. but the reality in washington is this. that regardless of how bad things are getting right now, and regardless of how much they are scaring the rest of the country, they seem dead set on going over the cliff right now and it will take a lot more than panicking consumers before they change their minds. alisyn: melissa francis is the host of "money" on the fox news business network. explain what consumer confidence means and why it's so bad. >> a lot of it has to do with the fiscal cliff. but as you look deeper into these numbers and the questions they were asking, a lot of people respond saying they feel like taxes are going up count road and that made them nervous a
experts say it could be the sail mate in washington around the fiscal cliff that's causing th this. chris stirewalt is our host of power play on foxnews.com live. this consumer confidence report shows the levels have plunges to the lowest in five months. is this getting any play in washington or was all the talk about the jobs numbers and unemployment rates? >> the jobs numbers weren't good enough to overshadow too much. but the reality in washington is this. that regardless of how bad...
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. >>> back here at home, as the fiscal cliff standoff continues in washington, the president took his plan out of town to northern virginia, where he sat down with a middle class family to talk about the potential impact they face from the looming fiscal cliff. it's now just 25 days away. nbc's tracie potts joins us with the details from washington. tracie, good morning to you. >> reporter: lynn, good morning. the white house has been all over social media with this one, asking what would happen if your family had to pay another $2,200 next year in taxes? 100,000 people responded, including that northern virginia family that the president met with yesterday. they said $2,200 for them is a couple months' rent. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem gives you a sense of the costs involved in very personal terms. >> reporter: the other big issue here on capitol hill, raising the debt limit. the president wants a new authority. mitch mcconnell filibustered his own bill. the senate minority leader filibustered
. >>> back here at home, as the fiscal cliff standoff continues in washington, the president took his plan out of town to northern virginia, where he sat down with a middle class family to talk about the potential impact they face from the looming fiscal cliff. it's now just 25 days away. nbc's tracie potts joins us with the details from washington. tracie, good morning to you. >> reporter: lynn, good morning. the white house has been all over social media with this one, asking...
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fiscal cliff and what will happen if the white house and congress fail to find a solution capital account is on its way from washington shortly and more news from moscow thirty five minutes from now. choose your language. we can with know if they feel some of us. choose the buttes the consensus you can. choose the opinions that invigorating to. choose the stories that impact your life choose the access to your office. plz. he is under siege for. destruction without mercy. what could be just ruins. saved by a great sacrifice. anything under a storm by human justice. a remarkable reminder of courage and selflessness. beauty is a. rush the sight. of. the. good afternoon welcome to capital account i'm lauren mr here in washington d.c. these are your headlines for friday december seventh two thousand and twelve is jobs day u.s. jobs numbers for november came in better than expected with the b.l.s. report showing one hundred forty six thousand jobs were added much more than expected and the unemployment rate fell to seven point seven percent but why did the rate went down because more people le
fiscal cliff and what will happen if the white house and congress fail to find a solution capital account is on its way from washington shortly and more news from moscow thirty five minutes from now. choose your language. we can with know if they feel some of us. choose the buttes the consensus you can. choose the opinions that invigorating to. choose the stories that impact your life choose the access to your office. plz. he is under siege for. destruction without mercy. what could be just...
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they are nowhere near a deal to avoid the so-called fiscal cliff. peter doocy is life in washington with more. >> republicans have had their proposal to avoid the fiscal cliff complete with 800 billion of new revenue over a decade on the table for more than a day now. it has yet to be publicly embraced by the slightest bit by any prominent democrats. because of that gop lawmakers are saying that means the white house wants to go over the fiscal cliff to make it a point. >> howard dean said it patti murray who ran the senator ideal committee. i think the presidency is a political victory for his party as they go over the cliff. i know republicans are concerned there is going to be a secondary session. >> the white house proposal raises taxes 1.6 trillion over a decade. republicans close loopholes and get rid of deductions. they say the mast won't work. >>> it is still out of balance. it is 800 million worth of revenues. he said he is going to do that by lowering rates. when you look at the map it doesn't work. >> the house majority with kevin mccarth
they are nowhere near a deal to avoid the so-called fiscal cliff. peter doocy is life in washington with more. >> republicans have had their proposal to avoid the fiscal cliff complete with 800 billion of new revenue over a decade on the table for more than a day now. it has yet to be publicly embraced by the slightest bit by any prominent democrats. because of that gop lawmakers are saying that means the white house wants to go over the fiscal cliff to make it a point. >> howard...
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good rally under way on hopes of a compromise on the fiscal cliff stalemate in washington. eamon javers standing by in a moment with information on a bipartisan letter from lawmakers that's. putting tax hikes and entitlement cuts firmly on the table. >> i'm bill griffeth. let's show you, and the charts tell the day's story, as it usually does. can you get when the president began speaking at business round table and we learned that at least 40 house republicans are breaking ranks to talk about anything, all possibilities as they said in an open letter. right now the dow is up 110, near the highs of the day. 13,062.59. the nasdaq is going the other direction. blame apple and overall technology having a tough day. down 13 points right now on the nasdaq at 2982. the s&p is holding with a gain of about five points. we'll have more on the markets in a moment. first, let's get to what's going on in washington. more republicans breaking ranks to join what we hope will be a bipartisan call for higher tax rates and entitlement cuts. eamon javers on capitol hill has the very latest d
good rally under way on hopes of a compromise on the fiscal cliff stalemate in washington. eamon javers standing by in a moment with information on a bipartisan letter from lawmakers that's. putting tax hikes and entitlement cuts firmly on the table. >> i'm bill griffeth. let's show you, and the charts tell the day's story, as it usually does. can you get when the president began speaking at business round table and we learned that at least 40 house republicans are breaking ranks to talk...
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, says there has been little progress. >> when it comes to the fiscal cliff threatening our economy and threatening jobs, the white house has wasted another week. >> democrats show no signs of backing off from supporting the president's hard-line stance on raising the incomes tax rate for the rich. >> we democrats realize there have to about two sides to the bargain, but in 2011 we put both revenues and cuts on the table. >> but one republican senator revealed this week that tax increases might help solve america's debt crisis. so far the g.o.p. has stood imeps raising taxes. >> what we ought to be working on is the other 93%, because if you want to do what he wants on tax rates, you affect% of the deficit. we have spent ourselves into a hole and we're not going to raise taxes and borrow money and get out of it. so, will i accept a tax increase as a part of a deal to actually solve our problems? yes. ago am -- >> ama: the federal government is planning for the possibility of cuts. the white house ordered the military to plan on slashing 500 billion from the military, and funding for sch
, says there has been little progress. >> when it comes to the fiscal cliff threatening our economy and threatening jobs, the white house has wasted another week. >> democrats show no signs of backing off from supporting the president's hard-line stance on raising the incomes tax rate for the rich. >> we democrats realize there have to about two sides to the bargain, but in 2011 we put both revenues and cuts on the table. >> but one republican senator revealed this week...
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for more talks on the fiscal cliff. details were not released but both sides say lines of communication remain open. on face the nation erskine bowles co-chair of the bipartisan deficit commission told bob schieffer he's a bit more optimistic than he was a week ago. >> we were going through the cab ukee theatre, one side making an offer, the other rejecting it and that is pretty natural in any deal. but you know, they've started to tango now and you know any time you got two guys in there tangoing you got a chance to get it done. >> meanwhile urging both sides to get this done jeffrey immelt chairman of general electric spoke to charlie rose. >> i would say the business community almost universitily speaks with one voice that this needs to get done and get done now. and moving it to next year is just failure. >> jeff: you can see the full jeffrey immelt interview first thing tomorrow on cbs this morning. >> big business is to the alone in wanting to avoid the fiscal cliff. tonight randall pinkston with 9 worries of smal
for more talks on the fiscal cliff. details were not released but both sides say lines of communication remain open. on face the nation erskine bowles co-chair of the bipartisan deficit commission told bob schieffer he's a bit more optimistic than he was a week ago. >> we were going through the cab ukee theatre, one side making an offer, the other rejecting it and that is pretty natural in any deal. but you know, they've started to tango now and you know any time you got two guys in there...
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. >>> much of the conversation in washington regarding the fiscal cliff is focused on tax rates or how the federal government can bring in more revenue from you. what about the other side of the equation? cutting back on spending and borrowing. steve moore joins us to talk about that and separate fact from fiction when it comes to the numbers. >> thank you for asking that question about the spending side of the ledger. the laos two or three weeks the discussion has been about raising taxes and no discussion about reducing the amount -- the outgo. >> let's start there. if we stopped overspending, what would it take for the government to get lined up, to get rid of the debt and deficit. >> we've dug ourselves into a deep hole. when i came to washington we talked about the budget, deficit in the billions, now in the trillions of dollars. part of the problem is the numbers are large but it's a million, million dollars. the debt is $6 trillion and we're borrowing $1.1 trillion a year. the problem the president faces, even if he gets his tax increase on the rich in negotiations, and he may v
. >>> much of the conversation in washington regarding the fiscal cliff is focused on tax rates or how the federal government can bring in more revenue from you. what about the other side of the equation? cutting back on spending and borrowing. steve moore joins us to talk about that and separate fact from fiction when it comes to the numbers. >> thank you for asking that question about the spending side of the ledger. the laos two or three weeks the discussion has been about...
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. >>> now, we turn to the battle over how to keep the nation from going over that so-called fiscal cliff. the clock is ticking now. 27 days to go. >> and president obama and congressional republicans are making plenty of sound bytes about it all. but very little progress. abc's tahman bradley has the details from washington. >> reporter: democrats and republicans remain light years apart. here's president obama, in an interview with bloomberg tv, describing house speaker john boehner's plan to avoid the fiscal cliff. >> unfortunately the speaker's proposal right now is still out of balance. >> reporter: the speaker's plan would raise $800 billion in tax revenue. but does so without raising tax rates for top income earners. the president says that's unacceptable. >> we're going to have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> reporter: republicans, like rising star senator marco rubio, say raising taxes on the wealthy is the wrong approach. >> the tax increases he wants would fail to make even a small dent in the debt. it would hurt
. >>> now, we turn to the battle over how to keep the nation from going over that so-called fiscal cliff. the clock is ticking now. 27 days to go. >> and president obama and congressional republicans are making plenty of sound bytes about it all. but very little progress. abc's tahman bradley has the details from washington. >> reporter: democrats and republicans remain light years apart. here's president obama, in an interview with bloomberg tv, describing house speaker...
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syria and the fiscal cliff. they share two things in common. they are subjects of an obama ultimate may tum and -- ultimatum and the a-team tonight. >> three, two, one! [cheers and applause] lou: state of washington celebrating the passage of two ballot initiatives. why pot heads gathered at the space needle ineattle next. the fiscal cliff 25 days away, a leading conservative senator unexpectedly resigns, and we'll take that up with his friend and colleague, congressman trey here next. lou: a big surprise today in washington. senator jim demint of south carolina announcing he will resign his senate seat? january to take over the leadership of the think tank, the conservative think tank, the heritage foundation. earlier, the snator criticized boehner's proposal saying, quote, would destroy american jobs and not reduce the debt a penny. joining me to talk about the senator's resignation, his outlook on the cliff, and a host of other issues, delighted to be joined by south carolina lawmaker congressman trey, and congressman, great to have you with
syria and the fiscal cliff. they share two things in common. they are subjects of an obama ultimate may tum and -- ultimatum and the a-team tonight. >> three, two, one! [cheers and applause] lou: state of washington celebrating the passage of two ballot initiatives. why pot heads gathered at the space needle ineattle next. the fiscal cliff 25 days away, a leading conservative senator unexpectedly resigns, and we'll take that up with his friend and colleague, congressman trey here next....
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all right well sticking with the topic of the economy fears of falling over the proverbial fiscal cliff how force the issue to the top of the congressional agenda the upcoming financial crisis was created by congress to force congress to act and is now acting against congress so much so that it could potentially cause the us to spiral into a congressional mandated recession so are you prepared for that or do you think this whole thing will blow over in a last minute deal lorie harshness of the resident dot net took that question to the streets of the financial capital of the world to find out. america is about to go over the fiscal cliff are you worried what should we do about it this week let's talk about that do you know the fiscal cliff. do you think a lot of americans do so then why is the media talking about it incessantly well so go there i guess i'm not as informed as they should be but i just kind of figure it might work out do you think most people feel that way you know even most people are worried i think they are and i think that if i ignored it all go away do you think call
all right well sticking with the topic of the economy fears of falling over the proverbial fiscal cliff how force the issue to the top of the congressional agenda the upcoming financial crisis was created by congress to force congress to act and is now acting against congress so much so that it could potentially cause the us to spiral into a congressional mandated recession so are you prepared for that or do you think this whole thing will blow over in a last minute deal lorie harshness of the...
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you talk about the fiscal cliff. rg3's knee, that's the story in washington today. redskins fans holding their breath as griffin was helped off the field. backup, curt cousins. 36 seconds left. connecting with pierre garcon for the touchdown. cousins was running the two-point conversion, we're headed to overtime. headed for 28. just over 1:00 gone punting to richard crawford. he gets to the 10 yard line. sprints up the sideline. finally run down the field after a 64 yard run sets up a 34 yard field goal to try to win it. it's good! redskins come back 31-28. they move to 7-6. >> after the game of course everyone wants to know how's his knee doing? mri came back negative for a torn acl. the diagnosis of sprained right knee. >> you're a doctor too in addition to a lot of guys. >> renaissance man. >> 245es very good. >>> the giengts needing a win over the saints to hold onto the nfc east lead. first quarter giants down a touchdown. this is david wilson. slightly fast. the rookie from virginia tech finds a little daylight. gone. kicker, come on, harley. he tried. well, w
you talk about the fiscal cliff. rg3's knee, that's the story in washington today. redskins fans holding their breath as griffin was helped off the field. backup, curt cousins. 36 seconds left. connecting with pierre garcon for the touchdown. cousins was running the two-point conversion, we're headed to overtime. headed for 28. just over 1:00 gone punting to richard crawford. he gets to the 10 yard line. sprints up the sideline. finally run down the field after a 64 yard run sets up a 34 yard...
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we do know that in the third quarter the fiscal cliff did contribute to a decline in investment. althoughmanufacturing was weakened. it's not justified by the underlying fundamentals. you have to believe that part of that is due to the uncertainty of the fiscal cliff. and we've seen a number of companies coming out saying we're not firing but we're delaying hiring and delaying investment projects. delays in an already weak economy, you don't want hesitation. it's a vicious cycle of hesitation and slow growth. kind of an opposite of what we saw in the '90s where you had certainty and caution thrown to the wind in robust growth. >> christine has one ear piece in, talking with us with the other ear. >> hurricane sandy, they say, did not affect the overall rate. they did not see that the overall rate was affected by hurricane sandy. the labor force declined a bid of 300,000 or so. retail trade was strong. construction was a little weaker. unchanged for the workweek, 43.4 hours. you still have long-time unemployed, an interesting number. that's been just stuck. >> yeah. >> that's 40%
we do know that in the third quarter the fiscal cliff did contribute to a decline in investment. althoughmanufacturing was weakened. it's not justified by the underlying fundamentals. you have to believe that part of that is due to the uncertainty of the fiscal cliff. and we've seen a number of companies coming out saying we're not firing but we're delaying hiring and delaying investment projects. delays in an already weak economy, you don't want hesitation. it's a vicious cycle of hesitation...
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more tough talk today from washington on the fiscal cliff: treasury secretary timothy geithner said he's willing to go over it if republicans don't agree to tax hikes for the wealthiest americans. president obama said basically the same thing but added one more hard line to the negotiations. >> if congress in any way suggests that they're going to tie negotiations to a debt ceiling vote and take us to the brink of default once again, as part of a budget negotiation-- which, by the way, we have never done in our history until we did it last year-- i will not play that game. >> late today the president spoke by telephone with house speaker john boehner. no specifics on what they said to each other, but it was their first conversation in a week. eventually the two sides will get down to bargaining over specifics, including entitlements. one idea may be to change the way the government measures inflation. that may sound like a small change, but, as darren gersh reports, it could have a big impact. >> reporter: if the price of oranges goes up, consumers will buy apples and other cheaper foods
more tough talk today from washington on the fiscal cliff: treasury secretary timothy geithner said he's willing to go over it if republicans don't agree to tax hikes for the wealthiest americans. president obama said basically the same thing but added one more hard line to the negotiations. >> if congress in any way suggests that they're going to tie negotiations to a debt ceiling vote and take us to the brink of default once again, as part of a budget negotiation-- which, by the way, we...
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if republicans and not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. there is no room for an agreement that the not involve the rates going up for the top 2%. >> speaking to a roundtable of corporate executives in washington, president obama said republicans' aid to examine the reality that tax rates will rise for the wealthiest americans. >> we have seen some movement in the last several days with some republicans. there has been a recognition that, maybe, they can accept some rate increases as long as is combined with a serious impediment reform and additional spending cuts. and if we can get the leadership on the republican side to take that kramer, to acknowledge that reality, then the numbers are actually not that far apart. another way of putting this is, we could probably solve this in about one week. it is not that tough. >> new details have been revealed in the retail giant kermit factory where 120 dacre workers died in a fire last month. "the new york times" is reporting that wal-mart played a key role in blocking the improveme
if republicans and not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. there is no room for an agreement that the not involve the rates going up for the top 2%. >> speaking to a roundtable of corporate executives in washington, president obama said republicans' aid to examine the reality that tax rates will rise for the wealthiest americans. >> we have seen some movement in the last several days with some republicans. there has been a...
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the fiscal cliff. they could be, working all this out behind-the-scenes and will tell us later. they could be. maybe the threat of working through the holidays will get them on the move? that is coming up. and a possibly breakthrough in the high profile murder case that cops call a "hit" job. police now have the get away car. but what about the driver? nounc] you like who you are... and you learned something along the way. this is the age of knowing what you're made of. so, why let erectile dysfunction get in your way? talk to your doctor about viagra. 20 million men already have. ask if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away if you experience a sudden decrease or loss in visio
the fiscal cliff. they could be, working all this out behind-the-scenes and will tell us later. they could be. maybe the threat of working through the holidays will get them on the move? that is coming up. and a possibly breakthrough in the high profile murder case that cops call a "hit" job. police now have the get away car. but what about the driver? nounc] you like who you are... and you learned something along the way. this is the age of knowing what you're made of. so, why let...
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these are headlines for tuesday december eleventh two thousand and twelve when talking about fiscal cliff solutions anti-tax advocate grover norquist we all know him he says nothing's changed from two years ago when president obama agreed to extend bush tax cuts for all. because it was not strong there show the argument to raise taxes now it is not only better than it was two years ago. but does the government need to tax and borrow in order to spend or is the government actually less constrained in its spending than believed and do budget deficits matter much less right now than we may think well stephanie helton chair of the economics department at university of missouri kansas city and a subscriber of modern monetary theory is here to talk about just that plus the senate is reportedly looking at extending a two thousand and eight at the i.c.c. financial crisis measure that guarantees one hundred percent of all checking account bank deposits now the c b o estimates the f.d.a. does not collect enough fees to offset the risk exists as another subsidy for too big to fail banks we have a re
these are headlines for tuesday december eleventh two thousand and twelve when talking about fiscal cliff solutions anti-tax advocate grover norquist we all know him he says nothing's changed from two years ago when president obama agreed to extend bush tax cuts for all. because it was not strong there show the argument to raise taxes now it is not only better than it was two years ago. but does the government need to tax and borrow in order to spend or is the government actually less...